MRVL is trading at $269.64 (down 4.1%) in pre-market as traders lock in profits following a powerful 68% run over the past 30 days.
- The pullback appears driven by valuation concerns and profit-taking after the stock recently hit a new 52-week high.
- There is no new negative company-specific news, with the move occurring against the backdrop of a slightly weaker broader technology sector.